10 Best Single Digit Stocks To Buy Now

4. Hudbay Minerals Inc. (NYSE:HBM)

Share Price as of December 27: $8.20

Number of Hedge Fund Holders: 35

Hudbay Minerals Inc. (NYSE:HBM) is a Canadian mining company that primarily focuses on copper production. It operates several exploration and extraction properties in North and South America. HBM owns 75% of the Copper Mountain Mine, located south of Princeton, British Columbia.

The company is strategically positioning itself for future growth through a series of promising agreements. During the first quarter of 2024, it extended the expected life of its Constancia mine by three years to 2041. The integration of the Copper Mountain Mine is also projected to significantly boost the company’s financial performance.

In January 2025, Hudbay Minerals Inc. (NYSE:HBM) secured an air quality permit for the development of its Copper World project in Arizona, United States. Located 50 km southeast of Tucson, the project is expected to produce 85,000 tonnes of copper per annum, with a mine life of 20 years.

In addition to these projects, the company maintains a solid financial outlook. During its recent Q3 2024 earnings call on November 13, Hudbay Minerals Inc. (NYSE:HBM) reported a significant increase in copper and gold production. HBM is also seeing impressive cash flow generation, which has enabled it to reduce overall debt by more than $500 million over the past year.

Wall Street analysts have a consensus Buy rating for the stock and anticipate a 32% uptick, on average, in its share price. According to Insider Monkey’s database for Q3 2024, 35 hedge funds had investments in the company, making it one of the best single digit stocks to buy now.